GILBERT – Located along the Loop 202 retail corridor in Gilbert, within proximity to multiple new developments of retail, office, automotive, education, and residential, Gilbert Fiesta Shops sold for $3,500,000 at a 7% cap rate. The 21,900-square foot shopping center was built in 2005 in the booming southeast valley of Phoenix. Gilbert Fiesta Shops is leased by both local and national tenants, including Leslie’s Swimming Pool Supplies, State Farm, and Battery Giant. The property was 100% occupied at close of escrow.

Nick Miner, CCIM, and Andrew Harrison of ORION Investment Real Estate represented the Seller in the transaction. Miner said, "The Seller purchased this property as a distressed center with high vacancy in 2015. The Seller was able to release the property and capitalize on the value created by the Seller’s repositioning plan. The Buyer utilized a reverse 1031 exchange to purchase the property. The Buyer liked the stable cash flow that the property will be offered, as well as the location in the fast growing City of Gilbert, Arizona."

ORION Represents Both Buyer and Seller in Local Daycare NNN Investment

January 17, 2018 | Phoenix, AZ

PHOENIX – ORION Investment Real Estate facilitated the sale of a fully occupied, freestanding building for $385,000, or $196 per square foot. Selling at a 10.3% cap rate, the building was NNN leased to a local daycare operator, who currently has two other locations, and went under extensive renovations in 2017. The property is located within a residential neighborhood in East Phoenix, off of 30th Street between Osborn and Thomas Road. The SR-51 Freeway is located less than one mile to the east of the property. Phoenix Children's Hospital is also located less than one mile away.

Nick Miner, CCIM, and Jennifer Eggert of ORION Investment Real Estate represented both sides of the transaction. Miner said, "This was a win-win situation for both Buyer and Seller. This is a great first property for an investor getting into commercial real estate with little downside and a good return going in."

The Seller was RSK Investors, LLC. The Buyer was locally-based Reddy Partners, LLC. This was the Buyer's first venture into a commercial real estate transaction and liked this property because of its location within the neighborhood. The fact that the potential downside could be offset by the rising residential market in the immediate area was enticing and offered great return for the property.

Nick and Jennifer have another high return daycare for sale that is a different operator for their Seller. For more information on their listing, please: click here.

PHOENIX – ORION Investment Real Estate facilitated the sale of a freestanding retail building, located along Cave Creek Road, for $350,000 ($69/SF). The building exhibits excellent visibility and frontage, with over 25,000 vehicles passing per day on Cave Creek Road. It is also ideally situated near State Route 51. The building was fully occupied at close of escrow.

Nick Miner, CCIM, of ORION Investment Real Estate exclusively represented the Buyer. Miner said, "This was an off-market transaction, where the Buyer was a tenant and a longtime client of mine. They wanted to purchase the property and after 3+ years, it finally came together.”

SCOTTSDALE – ORION Investment Real Estate recently negotiated the owner/user office building sale, located at 8101 East McDowell Road in Scottsdale, for $2,200,000 ($127/SF). It consists of approximately 18,000 square feet of office and warehouse space with three roll-up doors, situated in an excellent central location with easy access to the Loop-101, Loop-202, Scottsdale Road and Hayden Road. The property is located just east of the southeast corner of McDowell and Hayden Roads, in the bustling McDowell Road Corridor.

Nick Miner, CCIM, and Judi Butterworth of ORION Investment Real Estate facilitated the owner/user sale. Miner said, "This was a win-win transaction. The Seller was able to downsize into the property under a lease back, while the Buyer was able to have a tenant occupy a small portion of the property, as they grow into the entire property."

The Seller was Republic West Real Estate Holdings, LLC. The Buyer was Primos Development, LLC.

Investors continue to buy fewer apartment properties than they did last year. Yet prices continue to rise. "It's another down month for volume, but prices are still increasing," says James Costello, senior vice president for Real Capital Analytics (RCA), a New York City-based research firm. Usually prices fall when transaction activity slows..»

The not seasonally adjusted (NSA) national construction unemployment rate was 4.7 percent in August, down 0.4 percent from a year ago and the lowest August rate on record, the U.S. Bureau of Labor Statistics (BLS) reported. Unemployment rates were also down in 35 states on a year-over-year basis...»

In order for retailers to thrive and remain viable long term, they must continue to evolve to meet changing needs and consumer demands. If they don't evolve they go extinct, as we have seen over the last 20 years. A current example is that of the department store concept. In their 1970s heyday, they were the only major shopping option for consumers..»

Several commercial real estate industries could face a deepening labor shortage in coming years due to proposed immigration policies. If enacted, policies restricting legal immigration could make it increasingly difficult to fill various positions in the industry, according to a recent Cushman & Wakefield report...»

Thanks for Visiting

I'm Nick Miner. I have been working in Commercial Real Estate since 1998 and have completed over $225 million dollars of sales and leasing activity in my career. In September 2012, I made the move to ORION Investment Real Estate and am currently a Senior Vice President - Investments. How can I help you?